Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of solar efficiency leader SunPower (Nasdaq: SPWRA) jumped a whopping 36% today, after the company received a tender offer for 60% of the company.

So what: Oil giant Total decided it was time to take a plunge into solar, offering $23.25 per share for up to 60% of SunPower’s outstanding shares. The deal represents a 46% premium to yesterday’s closing price.

Now what: This offer validates what SunPower investors have been thinking for months. Considering that the market didn’t surge past the offer price, the upside appears to be $23.25 per share for the time being. But will this give broader validity to the solar sector, and push solar stocks higher? Some companies are responding today, but solar leaders Suntech Power (NYSE: STP), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE) have been left behind so far. I think there's still plenty of upside left in SunPower, but competitors that haven’t participated in the rally may provide even more upside after the stock's huge move today.

Interested in more info on SunPower? Add it to your watchlist.

Fool contributor Travis Hoium owns shares of SunPower. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.